Up to £5,000 per month rent
Up to £50,000 legal fees cover
Up to £1,500 hotel expenses
Rent Guarantee and Legal Expenses Insurance
If you rely on your rental income to meet your buy-to-let mortgage payments, what happens when your tenants stop paying their rent? At Oops, we know this can be financially catastrophic for landlords. We provide a rent guarantee policy that will cover unpaid rent up to £60,000 in a 12 month period. Landlords are also fully protected with £50,000 of legal expenses insurance. We even provide a free legal helpline. Why not protect your investment and sleep easy for just a few pence per day?
Up to £2,500 cover per month is just £99 per year or £8.25 per month
Up to £5,000 cover per month is just £166 per year or £13.91 per month
What’s Covered?
Important Documents
This cover is designed for Residential property Landlords that wish to cover themselves for the cost of legal fees in the event of a breach of their tenancy agreement. The policy will cover up to a maximum of £50,000 of professional legal fees for any event detailed within the “What is insured” section below providing that all the Tenant Referencing conditions detailed on Page 1 of the main policy terms and conditions are met. In addition to cover for legal expenses this policy will cover unpaid rent up to a maximum of £2,500 or £5,000 pm pm for a period of 6 or 12 months as selected and detailed on your policy schedule.
Insurance Product Information Document
It is important that you read this document carefully along with the Policy Wording provided for full details of the policy, including what you are covered for and any exclusions or limitations on the policy.
It is important that you read this document carefully along with the Insurance Product Information Document provided for full details of the policy, including what you are covered for and any exclusions or limitations on the policy.
You must provide full and accurate information to all questions asked. Your answers must be true to the best of your knowledge and belief. Your answers will form part of the statement of facts on which your policy will be based. If you become aware that information you have given us is inaccurate or has changed, you must inform us as soon as possible. Failure to do this may invalidate your policy and claims may not be paid.
Your premium will be payable to the broker or agent that you chose to purchase this policy from. Full details of the premium paid will be detailed on your policy schedule.
The policy will expire one calendar year from the date it was issued.
Pursuit of a claim outside the jurisdiction of the courts of England & Wales, Scotland and Northern Ireland.
You must register a claim with us or advise us of an incident that could result in a claim prior to any proceedings.
You must ensure that you comply with the requirements of any statutory deposit scheme
You must fully adhere to the Tenant Referencing terms of the policy (see Page 1 of your main policy terms and conditions for full details).
Maximum legal costs covered – £50,000.
You are not covered for any claim relating to any disagreement with your tenant when the event is within the first 90 days of the start of the period of insurance and the tenancy agreement started before the start of the period of insurance.
For Rent Guarantee claims you must be pursuing a claim under the Legal Pursuit section of the policy.
Guarantee Your Rent
Covers up to £5,000 per month in rental income.
Free Legal Helpline
We provide a free legal helpline to landlords.
Legal Expenses Cover
Covers up to £50,000 of legal fees.
12 Months Cover
Cover last 12 months and can be transferred to new tenants.
Pay Monthly
We offer the flexibility to pay annually or monthly.
No Excess
There is no excess to pay when you make a claim.
Need Tenant Referencing?
We can provide a range of tenant referencing services from basic credit checks to full referencing.
Do I need Rent Guarantee Insurance?
Susan, Lincolnshire
“When my tenants stopped paying their rent, I tried everything to get them to pay. Eventually I had to instruct a solicitor to evict them. I lost 5 months’ rent totalling £2,750 and paid over £3,000 in legal fees. Meanwhile, I had to continue to pay the mortgage. No one had told me about rent guarantee insurance, not even my mortgage provider…I now have rent guarantee insurance and would strongly recommend it!”
How Our Premiums Compare
Rentguard
from
£139.99
12 months and £3,000 per month rent
Oops Insurance
from
£99.00
12 months and £2,500 per month rent
Just Landlords
from
£139.00
12 months and £2,500 per month rent
Need a custom plan or bundle?
Not finding exactly what you’re looking for? Let’s talk and find the best solution for your needs.
Section 8 and 21 Notices
Unfortunately, it does not always work out with tenants and disputes arise or rent is left unpaid. Or you simply require possession of your property. Oops have an in-house team of lawyers that can help ensure you draft your notices correctly to avoid costly and frustrating delays.
This service is free with every Rent Guarantee and Legal Expenses insurance policy
How to Serve a Section 21 Notice
Oops Knowledge Hub
How to Serve a Section 8 Notice
Oops Knowledge Hub
Consultation on Section 21 Notices
Oops Knowledge Hub
Frequently Asked Questions
Is there an excess fee?
No. There is no excess to pay.
Can I cancel my policy?
Yes. You can cancel without charge within 14 days of the start date of your policy. On the condition that no claims have been made or are pending, we will refund your premium in full. If you wish to cancel your policy after 14 days, you may do so by giving us 30 days notice in writing however no refund will be given.
Can I claim within the first 14 days?
No. You cannot claim within 14 days of the start date of your policy.
Is there an exclusion period?
You are not covered for any claim relating to any disagreement with your tenant when the event is within the first 90 days of the start of the period of insurance and the tenancy agreement started before the start of the period of insurance.
Will I pay interest if I pay monthly?
No. Oops has teamed up with Red Apple Finance to offer monthly payment terms. Red Apple Finance charge 0% interest on a 12 month policy with an APR 0%.
Which insurer underwrites this policy?
Our Rent Guarantee and Legal Expenses policy is underwritten by Great Lakes SE which is part of Munich Re. Click her to learn more…
Need to Claim?
Logging a claim is quick and easy.
You can log a claim in your customer portal 24 hours per day 365 days of the year.
Alternatively, you can telephone us on 0345 548 1101.
Please make sure you have complied with the policy wording to ensure that the insurer accepts and resolves your claim in a timely manner.
Login
Login to your customer portal and log your claim in just a few clicks
Call
Once your claim is logged, complete the claims form
Insurers
Your claim will be passed to insurers for validation and processing